Islamic Financial Services Board Summit kicks-off

The 13th Islamic Financial Services Board, IFSB, Summit has kicked-off in Abu Dhabi today, in the presence of Mubarak Rashed Al Mansouri, Governor of the UAE Central Bank, and Dr. Abdulrahman Abdullah Al Humaidi, Director-General and Chairman of the Board of Directors of the Arab Monetary Fund.

Summit participants include supervisory and regulatory authorities, institutions providing Islamic financial services, international organisations, multinational development banks, as well as scholars, research centres and other relevant parties.

The IFSB summit aims to create a high level of interaction among participating delegations to discuss the implications of the changing international financial and economic environment on the Islamic financial services industry.

The summit also seeks to raise awareness about the emerging challenges related to the flexibility of the Islamic financial services industry and its stability, along with discussions on the efforts to renew the growth momentum and supporting reform policies.

Those attended included, Jameel Ahmed, Deputy Governor, Financial Markets, Islamic Banking and Special Initiatives, State Bank of Pakistan; Chuchi Fonacier, Deputy Governor and head of the Supervision and Examination Sector of Central Bank of the Philippines; Abdullah Al Saleh, the UAE Ministry of Economy's Under- Secretary for Foreign Trade and Industry; Dr. Obaid Al Zaabi, Acting chief executive officer of Emirates Securities and Commodities Authority; Khalid Abdul-Rahman Hamad, Executive Director, Banking Supervision, Central Bank of Bahrain; Jassem Ahmed, former Secretary-General of IFSB; and Zahid Ur Rehman Khokher, Acting Secretary-General of IFSB.

The summit will conclude tomorrow.

Source: Wam